Teijin to Sell Hydrogen Fuel Cells to Support Carbon Neutrality

Published on Mon 1 February, 2021

Loughborough, February 1, 2021 ---Teijin Limited announced today that it has signed a distribution agreement with Intelligent Energy Limited, a British fuel cell manufacturer, for the sale of IE-LiftTM hydrogen fuel cells in Japan. Under the terms of the contract, Teijin initially will sell the fuel cells to companies in the ICT, construction and manufacturing industries and then later in other industries. Teijin is targeting sales of JPY one billion by 2030.

The IE-LiftTM product range features three hydrogen fuel cell products in 1kW, 2.5kW and 4kW power outputs. The products are modular and scalable and offer numerous benefits where power is needed off-grid. Advantages, particularly over diesel generators, include quiet operation, zero emissions, low maintenance and no ground pollution issues.

Teijin, aiming to be a company that supports the society of the future, is confident that hydrogen fuel cells will help to reduce CO2 emissions in Japan and thereby contribute to the nation’s achievement of the United Nations’ Sustainable Development Goals (SDGs).

With the signing of the Paris Agreement, the world has recognized that decarbonization is an urgent global task. Responding to the trend of countries declaring their specific goals for realizing carbon neutrality, the Japanese government has declared 2050 as its target year for achieving this goal. The development of renewable-energy and low-carbon power generation are among the accelerating initiatives in the energy field aimed at realizing carbon neutrality.

Teijin, which supports both the United Nations Global Compact and Sustainable Development Goals (SDGs), contributes to provide environmental value solutions as one of its core priority fields and declares its long-term goals for reducing environmental impact in the company’s 2020-2022 management plan, entitled ALWAYS EVOLVING, that was announced in February 2020.

About Intelligent Energy

Intelligent Energy is focused on the development and manufacture of its Proton Exchange Membrane (PEM) fuel cell products for customers in the automotive, aerospace, generator, telecoms, materials handling and unmanned aerial vehicle (UAV) sectors. The company is headquartered and manufactures in Loughborough in the UK, with additional offices and representation in the US, Japan, China, and South Korea.

www.intelligent-energy.com

About the Teijin Group

Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the fields of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Originally established as Japan's first rayon manufacturer in 1918, Teijin has evolved into a unique enterprise encompassing three core business domains: high-performance materials including aramid, carbon fibers and composites, and also resin and plastic processing, films, polyester fibers and products converting; healthcare including pharmaceuticals and home healthcare equipment for bone/joint, respiratory and cardiovascular/metabolic diseases, nursing care and pre-symptomatic healthcare; and IT including B2B solutions for medical, corporate and public systems as well as packaged software and B2C online services for digital entertainment. Deeply committed to its stakeholders, as expressed in the brand statement “Human Chemistry, Human Solutions,” Teijin aims to be a company that supports the society of the future. The group comprises more than 170 companies and employs some 20,000 people across 20 countries worldwide. Teijin posted consolidated sales of JPY 853.7 billion (USD 8.0 billion) and total assets of JPY 1,004.2 billion (USD 9.4 billion) in the fiscal year that ended on March 31, 2020.

Please visit www.teijin.com